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AstraZeneca and Amolyt Pharma Reach Definitive Agreement for Acquisition

Friday, March 15, 2024

Amolyt Pharma, a global biopharmaceutical company focusing on therapeutic peptides for rare endocrine diseases, has been acquired by AstraZeneca. The acquisition involves an upfront payment of $800 million, with a potential additional payment of $250 million. AstraZeneca Rare Disease, a division of AstraZeneca, is excited about integrating Amolyt Pharma's talented team.

Thierry Abribat, Ph.D., Founder and CEO of Amolyt Pharma, expressed pride in the company's accomplishments, particularly advancing eneboparatide to Phase 3 for hypoparathyroidism and establishing an early-stage pipeline within five years. Abribat acknowledged the support from investigators, patients, and patient associations. He is optimistic about the future development under Alexion, AstraZeneca Rare Disease.

Pierre Legault, Chairman of Amolyt Pharma's Board of Directors, highlighted the value created for shareholders and patients. Legault expressed confidence in Alexion's ability to advance Amolyt's science and deliver therapies to rare disease patients.

Marc Dunoyer, CEO of Alexion, AstraZeneca Rare Disease, emphasized the need for alternatives to current supportive therapies for chronic hypoparathyroidism patients. He underscored Alexion's leadership in rare diseases and readiness to advance eneboparatide. Dunoyer expressed belief in Amolyt's pipeline and team to facilitate Alexion's expansion into rare endocrinology.

Amolyt Pharma's clinical pipeline includes differentiated therapeutic peptides targeting rare endocrine diseases. Eneboparatide (AZP-3601), an investigational daily subcutaneous injectable parathyroid hormone receptor 1 (PTHR1) agonist for hypoparathyroidism, is in Phase 3. Additionally, AZP-3813, a peptide growth hormone receptor antagonist for potential acromegaly treatment, is in Phase 1 development.

 

Source: globenewswire.com

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